Perrigo and biotechnology company Elan Corp., of Dublin, Ireland,
said they have entered a definitive agreement under which Elan will be
acquired by a new holding company incorporated in Ireland as “New
Perrigo."

The deal, which is expected to close by the end of the calendar year,
is also expected to give Perrigo a platform to expand its
international operations. New Perrigo is subsequently to be called Perrigo Company PLC and will be led by Perrigo’s current leadership team.

The cash and stock transaction, "will create a global healthcare
company with an industry-leading growth profile and the geographic scale
and scope to continue building a truly differentiated business,"
according to Perrigo.

Reports from Bloomberg, Forbes, and other media outlets are reporting that the move translates into Perrigo relocating its headquarters.

Follow the comment section below for live coverage of the media conference. Check back at Mlive.com/Kalamazoo for more information about the acquisition and what it means for West Michigan.